您想继续阅读英文文章还
是切换到中文？
是切换到中文？
THINK ALUMINIUM THINK AL CIRCLE
This week the global primary aluminium industry witnessed a lot of significant events. The ongoing geopolitical conflict between Russia and Ukraine has brought about many changes in the industry. To begin with, on October 24, 2022, Norsk Hydro's CEO and President Hilde Merete Aasheim urged the European Union and the United States to stop importing Russian aluminium onto their respective continents. On October 24, five European business organisations said they had encouraged European policymakers to avoid imposing sanctions, tariffs, or boycotts on Russian aluminium. From the market forefront, Hydro reported an adjusted EBIDTA of NOK9,721 million in 3Q2022, an increase of 34.65% from NOK7,219 million for the same period in the previous year. Due to port congestion and a decrease in third-party rail capacity, the global resources giant SOUTH32 said that sales of manganese and aluminium from its South African businesses fell in the first quarter of its 2023 fiscal year.
_0_0.png)
The Singapore-incorporated multinational commodity trading company Trafigura, also acknowledged as the global leader in trading refined metals, including aluminium, entered into a USD800 million five-year loan underwritten and arranged by Societe Generale and syndicated to seven participating banks.
The global resources company, SOUTH32, stated that sales of aluminium and manganese from its South African operations shrank in the first quarter of its 2023 financial year due to port congestion and reduced third-party rail availability.
On October 24, 2022, five European industry associations stated that they had urged European authorities to stave off sanctions, tariffs or boycotts against Russian aluminium. Otherwise, it might create a situation where thousands of companies would go out of business, and develop unemployment.
On October 24, 2022, Hilde Merete Aasheim, the President and CEO of the Norwegian aluminium producer Norsk Hydro called on the United States and the European Union to halt importing Russian aluminium onto their territories.
To know more: https://www.alcircle.com/news/hydro-chief-executive-urges-for-sanctions-on-russian-aluminium-in-eu-us-85928
As a result of a geopolitical crisis between Ukraine and Russia, Russia had been subjected to numerous EU restrictions since February 2022. Our source from Europe unveiled that during the nine months of the crisis, the government in the Hague issued 91 decisions exempting individual entities from sanctions.
To know more: https://www.alcircle.com/news/netherlands-pulls-back-some-sanctions-imposed-on-russia-including-those-on-aluminium-85939
The diversified miner and metal producer, South32, maintained its outlook for a few commodities over the longer term, despite the decrease in base metal prices. As for the next financial year, Kerr said South32 would continue to focus on cost management and expects to see the benefits of production growth, which the firm expects will mitigate inflationary costs across the industry.
To know more: https://www.alcircle.com/news/south32-expects-to-double-its-low-carbon-aluminium-production-graham-kerr-85949
As per the contract recently signed between Glencore and Rusal, the former will acquire aluminium from the latter next year. "Glencore are going to take aluminium from Rusal next year," one of the sources said, declining to detail the quantity and adding that negotiations with consumers to sell the remainder of Rusal's product were still going on.
To know more: https://www.alcircle.com/news/glencore-chooses-to-continue-with-rusal-for-acquiring-aluminium-in-2023-85954
The Dutch aluminium producer Delfzijl Aluminum commonly known as Aldel, filed for bankruptcy with the court on Thursday, October 27. The news was confirmed by Eric Wildschut, director of finance. High energy costs are the primary reason for the financial issues, resulting from which they had stopped manufacturing since the beginning of September.
To know more: https://www.alcircle.com/news/dutch-aluminium-maker-aldel-files-for-bankruptcy-due-to-soaring-energy-prices-85959
As of October 27, the domestic aluminium billet social inventory settled at 55,800 tonnes, down by 16,100 tonnes from the previous week. Since the National Day break ended, the inventory witnessed a downfall and was also at its lowest point in recent years.
LME aluminium opened at US$2,333.5 per tonne on Thursday; with its high and low at US$2,341.5 per tonne and US$2,275 per tonne, respectively, before closing at US$2,291 per tonne, a drop of US$39 per tonne or 1.67 per cent.
To know more: https://www.alcircle.com/news/lme-benchmark-aluminium-price-slides-up-by-us31-54-t-to-us2297-t-shfe-faces-us35-t-slump-85953
On Friday, October 28, A00 aluminium ingot price in China slumped by RMB 280 per tonne to reside at RMB 18,300 per tonne, with the average prices standing between RMB 18,280 per tonne and RMB 18,320 per tonne. The spot contract price is likely to be traded at a discount price of RMB 50 to RMB 10 per tonne.
The Norwegian aluminium and renewable energy giant Norsk Hydro reported an adjusted EBIDTA of NOK9,721 million in 3Q2022, a growth of 34.65 per cent from NOK7,219 million recorded for the same period last year, resulting in a 12-month rolling Adjusted RoaCE of 27 per cent.
To know more: https://www.alcircle.com/news/hydro-reports-y-o-y-growth-of-34-65-in-adjusted-ebidta-due-to-higher-metal-prices-85937
According to the International Aluminium Institute, Africa’s primary aluminium production stood at 136,000 tonnes in September 2022, registering a downfall of 3.55 per cent or 5,000 tonnes from 141,000 tonnes in August. However, on a year-on-year basis, the output edged 4,000 tonnes or 3.03 per cent higher than 132,000 tonnes.
Social inventories of primary aluminium in China amounted to 626,000 tonnes across eight major consumption areas, including SHFE warrants, on Monday, October 24, according to the Shanghai Metals Market. SMM found the inventories decreased by 10,000 tonnes over the weekend but edged 6,000 tonnes higher than at the end of September.
According to the National Bureau of Statistics, China’s primary aluminium production rose 9.3 per cent year-on-year in September 2022 to stand at 3.42 million tonnes, as smelters in a few major regions ramped up output after the ease of power restrictions.
According to the International Aluminium Institute’s latest data, world primary aluminium production in the third quarter of 2022 ended September 30 closed at 17.481 million tonnes, recording a quarter-on-quarter increase of 2.36 per cent. In Q2 ended June 30, global output stood at 17.078 million tonnes, up by 3.33 per cent from 16.527 million tonnes in Q1.
One of the biggest enterprises in Dubai serving the commodities market and providing mining, power and energy services, Dubal Holding has signed an initial deal with the investment corporation, Imdaad to develop projects aimed at boosting Dubai's sustainability objectives.
To know more: https://www.alcircle.com/news/dubal-holding-and-imdaad-join-forces-to-promote-eco-friendly-initiatives-in-dubai-8592
Responses
